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Concho Resources Inc. (CXO)

(Delayed Data from NYSE)

$109.49 USD

+4.63 (4.42%)

Updated May 3, 2019 04:00 PM ET

After-Market: $109.47 (%) 5:22 PM ET

Zacks Rank:

This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. How good is it? See rankings and related performance below.

Zacks Rank	Definition	Annualized Return
1	Strong Buy	24.15%
2	Buy	17.88%
3	Hold	9.47%
4	Sell	5.14%
5	Strong Sell	2.57%
S&P	500	11.11%

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Style Scores:

The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.

The scores are based on the trading styles of Value, Growth, and Momentum. There's also a VGM Score ('V' for Value, 'G' for Growth and 'M' for Momentum), which combines the weighted average of the individual style scores into one score.

Value Score	A
Growth Score	A
Momentum Score	A
VGM Score	A

Within each Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, an A, is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F.

As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style.

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NA Value NA Growth NA Momentum NA VGM

Industry Rank:

Industry: NA

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Zacks News

Concho Resources Inc., based in Midland, TX, is an independent oil and gas explorer and producer. Founded in 2004, the company focuses on growth through a combination of acquisitions and active drilling in the lucrative Permian Basin spread over west Texas and New Mexico. In July 2018, the company acquired rival RSP Permian Inc. in a $9.5 billion deal. The acquisition – by far the largest in its history – added 92,000 acres of complementary holdings to Concho Resources’ Permian portfolio. The company, which went public in 2007, currently owns roughly, 550,000 net acres in the Permian Basin and is one of the largest producers from the unconventional shale. As of year-end 2019, Concho Resources’ proved reserves tally stood at 1 billion oil-equivalent barrels (62% oil). The company produced approximately 120.8 million barrels of oil equivalent of oil and gas last year, of which more than 63% was oil. Concho Resources is planning on delivering production growth of around 6% to 8% in 2020 while increasing its oil output by 10% to 12% this year versus 2019 levels. The company initiated a dividend program in the first quarter of 2019 and has set a capital investment budget of $2.6 billion to $2.8 billion for this year.

Here's What the EIA's Latest Crude Inventory Report Revealed

by Nilanjan Choudhury Published on October 19,2020

Energy companies including Equinor (EQNR), Chevron (CVX), Shell (RDS.A) and BP plc (BP) had their offshore operations hampered due to Hurricane Delta's landfall.

U.S. Shale Oil Production Descent to Continue in November

by Nilanjan Choudhury Published on October 15,2020

The steep drop in oil prices have forced the shale fraternity to scale back drilling activity and cut their capital budgets significantly.

Stocks Down 2nd Straight Day: Prime, Lilly, United Q3 & More

by Mark Vickery Published on October 14,2020

Market indexes closed lower for their second-straight session, following a string of four days in a row higher.

ConocoPhillips in Talks to Buy Concho: What's in Store?

by Zacks Equity Research Published on October 14,2020

ConocoPhillips (COP) and Concho Resources' total production for the second quarter is recorded at 1.3 million barrels of oil equivalent per day, per Bloomberg.

US Oil & Gas Rig Tally Increases, Permian Witnesses Rebound

by Zacks Equity Research Published on September 28,2020

Since economies are reopening, most analysts opine that the weekly rig count is likely to persistently increase.